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"Strategic initiatives taken in the fourth quarter towards reduction in the cost of deposits, improved recovery performance and stringent measures on cost control contributed to net profit of Rs 35.50 crore," the bank said. On a sequential basis, the bank said it turned around in the fourth quarter of 2014-15, registering a net profit of Rs 35.50 crore against a net loss of Rs 516.03 crore in the preceding quarter. However, the Chennai-based bank ran up a net loss for the last financial year ended March 2015 at Rs 454.33 crore as against a net profit of Rs 601.74 crore in the year-ago period. Indian Overseas Bank registered a sharp decline of 86.7 per cent in its March quarter net profit at Rs 35.50 crore, from Rs 268.33 crore during the same period a year ago. To a query, he said the bank would add about 300 branches in this fiscal year to the total network of about 3,300 branches.
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But when we require it, it will not be taking more than 3-4 weeks to mop up the money." Consciously, we are trying to consolidate", he said.Īsked whether there was any fund raising plans, he said, "We have head room of Rs 1,600 crore in Tier II capital which we may go up this year. "Overall business growth, we expect to be around 8-10 per cent. He said the bank's focus area during the current financial year would be on prevention of slippages and improving CASA (current account savings account). If infrastructure and power sectors perform well, profit has to simply go up", he said. "Our operating profits are still comparable.
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We anticipate we will be making Rs 700-800 crore profits this year." Finacles banking software solutions and services help Indian Overseas Bank Finacle 10.x End User Training Manual 4 1. Some green shoots are visible in the economy. On the bank's outlook for fiscal year 2015-16, Mr Koteeswaran said, "We are optimistic. Some of the other sectors where we have seen NPAs are in infrastructure, iron and steel", he added. IOB also has a network of about 3300 ATMs all over India.The bank has taken a late leap towards internet-enabled banking and data analytics by implementing Infosys Finacle’s latest rack of software executed by American technology company HPE and became the first public sector bank to get the latest digital banking software, Finacle 10 suite. "About 60 per cent of the bank's NPA is lying in power sector which is about Rs 10,592 crore. The facility is to be maintained for seven years by Infosys.Įarlier, speaking to reporters regarding the bank's performance, he said the net profit declined due to high non-performing assets (NPAs) slippages in previous quarters.
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By October we should begin and I believe by early next year we should have completed full implementation of CBS facility." To a query, Mr Koteeswaran said, "We are expecting the work to be completed by September. Right now the training is going on".Īccording to bank officials, Indian Overseas Bank would be implementing Finacle banking software provided by IT major Infosys.
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The Chennai-based public sector lender, under former chairman and managing director M Narendra, had taken steps to upgrade the CBS platform and had appointed global firm Ernst & Young (EY) as the IT consultant for the project few years ago.Īsked whether there was any delay in this regard, he said, "They (previous team) have conceptualised it, I am implementing it. We have alloted Rs 300 crore to be spread across a seven year period for it", Indian Overseas Bank managing director and CEO R Koteeswaran told PTI here.
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"(Core banking solution) CBS platform is likely to be implemented by end of this year or early next calendar year.
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Interest certificate Only for TDR for a givencust_id.Chennai: Indian Overseas Bank has resumed work on technology upgradation and allocated about Rs 300 crore for the purpose, a top official has said. Payslip reconciliation/outstanding Report If you have any query or feedback do reply in your feedback.Īdvanced Interest Collected Report- Billsīalances outstanding in MBBCASH001,ATMCASH001, ATMTEMP001 where balancenot equal to ZERO.īills Register Report - Collection Inward/Outward Sale Finacle Solution IOB Finacle 10x Training Manual Copy 1 FlipHTML5 December 11th, 2019 - Featured Examples Creation Tutorial Video Tutorial' 'IOB FINACLE 10X TRAINING MANUAL COPY 1 PAGES 1 50 DECEMBER 22ND, 2019 - AND AGAIN SAME USER HAS TO BEADDED IN FINACLE CORE THROUGH MENU OPTION HUPM OF FINACLE CORE FOR ACCESS INTO COREBANKING. few commands may vary from Bank to Bank but most of them are common to all Banks using Finacle as their as their CBS application. I hope this post will help you to master Finacle Package. I have compiled 286 selective Finacle menu options / Finacle commands for your ready reference.